All Forum Posts by: Philip Mullinax

Not free labor.  Looking to trade services.

Hey SC BP family, I just purchased a quadraplex in Columbia that's in need of some repairs/updates. I wanted to see if anyone would like to lend their skills/hands as I get the units rent ready? I have to replace some doors, repair some decks, install some vinyl plank flooring, paint, scrape popcorn cielings, replace some fixtures, and a few other odds and ends. In exchange I will be happy to help with any of your projects. I look foward to hearing from you guys.

Hey SC BP family, I just purchased a quadraplex in Columbia that's in need of some repairs/updates.  I wanted to see if anyone would like to lend their skills/hands as I get the units rent ready?  I have to replace some doors, repair some decks, install some vinyl plank flooring, paint, scrape popcorn cielings, replace some fixtures, and a few other odds and ends.  In exchange I will be happy to help with any of your projects.  I look foward to hearing from you guys.

Hey guys, I am happy to announce we closed on the quadraplex on the 5th of the month with the nonpaying tenant fully evicted and moved out.  As a double bonus one of the other units I was concerned about (daughter of the owner) also decided to move.  Now I am in the process of fixing the two units to get them rent ready and taking care of deferred maintenance on the other two.  One of remaining units is coming up for renewal and I am doing a rent increase of $50.00 and I will rent the other two for the market rents ($75.00 higher then previously rented for).  If anyone is handy in the Columbia area or wants to get some repair experience I am happy to have some extra sets of hands.

Hey guys, I wanted to give a status update on my purchase.  The tenant that is being evicted has decided to voluntarily leave so she doesn't get evicted.  I am really happy about this, but a little leery as the current owner is just going to change the locks and call it good.  From what I understand that's called a lock out and is illegal in SC.  I have proposed we get her to sign a voluntary release agreement that she is agreeable to.  Does anyone on this thread have a voluntary release they have used in the past?  I am scheduled to close on the 6th and would like to get something in place before then.  I appreciate everyone's input.

Thanks guys.  I spoke with the attorney and he did confirm I would have to start the process over.  With that in mind I have asked to either push the closing until the eviction is finalized or concessions to cover the two months it will take to get her out.  I am really hopeful she agrees to push the closing versus the concessions.  I would much rather screen a new tenant than deal with a inherited one any day.  Thanks again for everyones input.

Hey guys, I'm in the process of purchasing a quadraplex.  I was informed that one of the tenants didn't pay their rent for November.  The current owner has started the eviction process, but it will not be completed before I close.  Has anyone had any experience with taking over an eviction from a previous owner.  I have put in an email to my realestate attorney, but wanted to see if anyone had any exprienece dealing with this.

@Anthony Hurlburt @Jeremy S. @Neal Collins Thanks guys for the suggestions.  I currently have three single families that I have had set up on PayPal since the beginning.  I like the idea of ACH payments, but not sure about giving a tenant my account number.  I haven't heard of Venmo or Cozy before, but looking at both sites I think I like Cozy the best for its comprehensiveness.  Its seems like its 'Property Management Light' which is probably what I need.  A little more concerned with how I set up the new tenants as I didn't get to screen them so not sure what I am dealing with.  I will definitely be putting together welcome packets to cover the basics.  Judging from the Estopels it doesn't seem like the previous owner was very involved.  I.e. differed maintenance, not having copies of the current contracts, etc...

@Anthony Hurlburt and @Neal Collins this is definitely a new experience for me.  I appreciate the insight as to the Welcome Letter and Addendum.  I have a good template from one of @Brandon Turner's books.  I already got good use out of the Estoppel Agreements.  It is funny what you are saying about the first rent collection being wonky.  I have a pretty good idea of which tenant may be my trouble one.  Do you guys have any recommendations on rent collection sites?

@Anthony Interesting thought.  A little concerned about the enforceability of it.  Ie tenant doesn't pay rent, but says they put it in the account in the lease.

@Anthony Hurlburt